Bank Secrecy Act Analyst

Overview

Identify customer-related trends, patterns, typologies and issues associated with money laundering, terrorist financing and other suspicious transactions. Ensure that all transactions / customers deemed suspicious are referred to the appropriate BSA Analyst or Supervisor in a timely manner and in accordance with Bank policies and procedures. Performs any functions necessary, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers and co-workers.

Responsibilities

Complete analysis of BSA / AML alerts within established timeframes and following alert processing guidelines.

Recommend alerts to send to case for further evaluation of suspicious activity

Manage BSA cases by analyzing and documenting results of activity and supporting documentation, resulting in a recommendation to file or not to file a Suspicious Activity Report (SAR)

Participate in SAR completion process including SAR filing, SAR committee, SAR narratives, Quality Review, and SAR re-files.

Utilize multiple systems including but not limited to core banking, AML monitoring software, check imaging software, document imaging software and online resources to analyze transaction activity and identify unusual patterns

Conduct enhanced due diligence on high-risk customers and recommend changes to risk ratings when warranted

Prepare and maintain documentation necessary to fulfill regulatory and third party audit requirements

Monitor Customer Due Diligence (CDD) questionnaires for completion and follow up with responsible departments for corrections as appropriate.

Evaluate CDD alerts for unidentified high-risk customers generated by the AML monitoring system.

Monitoring proper and correct completion of beneficial owner documentation as required for business deposit accounts and commercial loans.

Complete verification and filing of Currency Transaction Reports (CTRs) within regulatory deadlines.

Complete analysis of watch list alerts including possible matches to OFAC SDN lists, sanctioned countries, politically exposed persons, and internal lists

Provide backup coverage as needed for all BSA AML related tasks.

Participates in annual required BSA / AML training

Serves as a resource for internal departments

Performs related and unrelated duties as may be required.

May be required to travel to designated high-risk customer sites to observe presence of ATM machines, lottery sales and money transfer services.

Qualifications

• BA or BS degree preferably in finance, accounting or related discipline, or equivalent work experience.
• A minimum of 3 years BSA / AML or related banking experience.
• Must have at least basic knowledge in all areas of the BSA / AML and regulatory requirements.
• Experience using BSA / AML or Fraud monitoring systems preferred.
• Must possess excellent verbal and written communication skills.
• Must be self-motivated with excellent analytical and investigative skills.
• Must be willing to attend BSA / AML training sessions both on and off bank premises.
• Must possess at least intermediate technology skills, including fluency in Word, Excel and Outlook applications.

PI278582449

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